Forestar extends KeyBank loan a year, cuts commitment to $50 million

By Wendy Van Sickle

Columbus, Ohio, May 12 – Forestar Group Inc. extended its senior secured credit facility with KeyBank NA as agent by one year to May 15, 2018 and reduced the revolving commitment by $75 million to $50 million, according to an 8-K filing with the Securities and Exchange Commission.

The company exercised the extension option on Monday and reduced the commitment on Wednesday.

Forestar also reduced the letter of credit sublimit to $50 million.

Forestar is an Austin, Texas-based real estate and oil and natural gas company.

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